Page 91 - ETIHAD CREDIT INSURANCE PR REPORT - AUGUST 2024

8/22/24, 2:08 PM Abu Dhabi Chamber reports 23.8% YoY increase in issuing certificates of origin

In a press release on Tuesday, the chamber said that this significant growth reflects Abu Dhabi's expanding exports and

underscores local efforts to boost trade opportunities and enhance the UAE's global trade footprint.

The paper highlighted the top 10 regional and global markets targeted for exports by Abu Dhabi Chamber members, which

are, respectively: Saudi Arabia, Kuwait, Oman, Qatar, USA, Egypt, Bahrain, Jordan, Iraq, and India.

According to the Emirates News Agency (WAM), the study indicated that the chamber's efforts contributed to an increase in

local commercial activity compared to 2023, coinciding with a rise in the number of new industrial companies registered with

the Abu Dhabi Chamber.

The transportation and storage sector witnessed a remarkable 78% increase between January and May compared to the

same period in 2023.

Additionally, the paper observed that by the end of 2023, the total value of the UAE's non-oil foreign trade with countries with

which it has signed Comprehensive Economic Partnership Agreements (CEPA), both those implemented and those nearing

conclusion, surpassed AED390 billion.

The paper also confirmed that the CEPAs have significantly contributed to driving the UAE's economic growth, facilitating the

entry of Emirati exports into several major markets in the world, most notably India, Indonesia, Turkey, Korea, and Malaysia.

This includes a variety of products such as electronic equipment, machinery, metals, medicine, vegetable oils, and others.

The paper revealed that the patterns of exporting non-oil goods from the UAE now encompass a diverse global scope, with

Asia emerging as the leading export destination, followed by the European Union and North America.

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